Real Estate Investing in Chicago, Illinois (60654)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60654 (Chicago, IL)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 12.1% of homes vacant — above national norms.
- Declining values: -1.0% 5-year CAGR — values have moved lower.
What’s happening in Chicago, IL (60654)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60654 Chicago
This part of Cook County is not an easy win. The 60654 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Looking more closely, the numbers look inviting — $389K purchase price, 0.0% nominal cap — the work to hit that pro forma in 60654 is substantial and deserves full respect.
ZIP 60654's metrics run below Cook County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Resident income in 60654 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
New investors are better served looking at Chicago's stable or hybrid ZIPs before stepping into 60654. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60654
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $305,150 | $2,370 | 5.6% | +1.3% | $305,150 |
| 2BR | $470,311 | $2,670 | 4.1% | -0.1% | $235,155 |
| 3BR | $944,948 | $3,440 | 2.6% | +0.6% | $314,983 |
| 4BR | $1,669,613 | $3,980 | 1.7% | +3.5% | $417,403 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60654 Compare?
| Metric | 60654 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $389,083 | $345,093 | $279,761 |
| 5-Year CAGR | N/A | 2.6% | 6.6% |
| Avg Rent | $2,975 | $2,056 | - |
| Cap Rate | 6.0% | 5.1% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60654 (Chicago, IL). Anonymous, moderated, never written by AI.
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Property managers serving Cook County
Manage rentals here? List your business →American Property Management of Illinois, Inc. (Associa) provides comprehensive HOA and condominium management services in Chicago and surrounding areas. summary from their website
Blackhawk Realty Management, LLC provides professional property management and real estate services for its multifamily apartment portfolio, founded in 2004. summary from their website
Buckingham Property Management, Inc. offers apartment rentals and management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $389,083 |
| Monthly Rent | $2,975 |
| Price-to-Rent | 10.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.2% |
| Cap Rate | 6.0% |
| 5-Year IRR | 4.9% |
📈 Home Appreciation
| 1-Year | +9.2% ▲ |
| 3-Year CAGR | 0.0% ▼ |
| 5-Year CAGR | -1.0% ▼ |
| 10-Year CAGR | -2.1% ▼ |
🏠 Rent Trends
| 1-Year | +6.0% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +4.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (6.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60654
Population: 24,303
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 60654
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Cather Elem School
Chopin Elem School
De Diego Elem Community Academy
Newberry Elem Math & Science Acad
Ogden Int High School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,488 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical rental rate in Chicago, IL?
The typical rental in Chicago, IL commands about $2,975/mo monthly. That rent profile predictable cash flow against the $389K purchase basis.
What is the typical renter like in Chicago, IL?
Tenant quality in Chicago, IL ranks as solid. Landlords generally report steady occupancy at market rents of $2,975/mo.
How landlord-friendly is Chicago, IL?
Landlord-friendliness in Chicago, IL is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is house hacking profitable in Chicago, IL?
House hacking works a challenging in Chicago, IL. Rents of $2,975/mo against $389K acquisition make the strategy solid for owner-occupants.
What approach is best for Chicago, IL real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Chicago, IL. The numbers - $389K homes against $2,975/mo rents - support that play.
You know 60654 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60654 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 60654 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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